States Worry about Revenue Loss if Death Tax is Revoked.
Publication: The Dallas Morning News (Dallas, Texas) (via Knight-Ridder/Tribune Business News)
Publication Date: 21-FEB-01
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Feb. 20--When he was running for president, George W. Bush spoke often of repealing the "death tax," warning that it imperils family farms and small businesses and inflicts on mourners the double pain of dealing with the undertaker and the tax collector simultaneously.
One aspect was rarely discussed: the budget crunch that such a repeal would mean for states.
Many states have estate taxes tied to the federal version. Eliminate one and the other disappears.
Texas alone stands to lose roughly $300 million a year -- which budget writers in Austin and 34 other state...
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